PNC bank returns trump jnr's money in mail, drops dealings with his news aggregation app MxM

[butters]

Donald Trump Jr. on Thursday said PNC Bank informed him it will no longer be working with his news aggregation app.

During a live broadcast on Newsmax with host John Bachman, the former president's son blamed "cancel culture" for the bank's decision.

"Basically, PNC Bank sends us a letter—not even a phone call—it's like the breakup through text," he said. "A letter with a cashier's check for, you know, what we had—a significant amount of money—that we had in an account for a news aggregator, not even someone producing like right-wing propaganda, but something that takes all the news to make sure that you see it."

https://www.msn.com/en-us/news/poli...&cvid=ca9c7168f5c64f39f55619a8c78aa3f0&ei=145

 

[jaF0]

By mail.

Yes.

That's how things are done officially.

 

[adrina]

Claiming to not be right wing propaganda while talking to a right-wing propaganda outlet. Par for the course.

 

[ll74]

Based on this, the Florida legislature will be banning PNC bank from the state.

 

[HisArpy]

Why is it that some people believe that banks have any right to tell you what to do with your money that's on deposit, including saying that your lawful drafts on that account to payees won't be honored?

The money doesn't belong to the bank. If it's on deposit and the funds are available, then the bank must honor the drafts against it without question. Failure to do so means that the bank has exerted dominion over the money, which is a crime called conversion.

The bank has no right to say that "the money" can't be deposited with them after it's been deposited because whatever issues the bank has with the depositor, it cannot impute those issues to the money on deposit. If it does, it exerts dominion over the money which is conversion.

Unfortunately, some people believe that the bank can choose who it wants to do business with. This is both true and false. After the bank opens an account, it no longer has that option because it has chosen to do business with the entity which owns the account. If the bank attempts to close the account, deny business transactions, or anything regarding the money/account, it is exerting dominion over that account/money.

The problem is that it's going to take Congress to clarify this and we all know that Congress isn't really interested in anything except helping themselves.



BTW, PNC has restored the account. I'm thinking it's because the bank had said that "they" - "closed the account" - "without cause." Which is conversion.

 

[ll74]

Why is it that some people believe that banks have any right to tell you what to do with your money that's on deposit, including saying that your lawful drafts on that account to payees won't be honored?

The money doesn't belong to the bank. If it's on deposit and the funds are available, then the bank must honor the drafts against it without question. Failure to do so means that the bank has exerted dominion over the money, which is a crime called conversion.

The bank has no right to say that "the money" can't be deposited with them after it's been deposited because whatever issues the bank has with the depositor, it cannot impute those issues to the money on deposit. If it does, it exerts dominion over the money which is conversion.

Unfortunately, some people believe that the bank can choose who it wants to do business with. This is both true and false. After the bank opens an account, it no longer has that option because it has chosen to do business with the entity which owns the account. If the bank attempts to close the account, deny business transactions, or anything regarding the money/account, it is exerting dominion over that account/money.

The problem is that it's going to take Congress to clarify this and we all know that Congress isn't really interested in anything except helping themselves.



BTW, PNC has restored the account. I'm thinking it's because the bank had said that "they" - "closed the account" - "without cause." Which is conversion.

You sign a bunch of paperwork when opening an account. Maybe you should review that with a lawyer